Providence College

“Part iii, line 1 providence college is a catholic, dominican, liberal arts institution of higher education and a community committed to academic excellence in pursuit of the truth, growth in virtue, and service of god and neighbor. History providence college was founded in 1917 by the dominican friars at the invitation of bishop harkins to provide a catholic education in the arts and sciences. Faith and reason providence college is confident in the appeal of reason, believes that human beings are disposed to know the truth, and trusts in the power of grace to enlighten minds, open hearts, and transform lives. Providence college maintains that the pursuit of truth has intrinsic value, that faith and reason are compatible and complementary means to its discovery, and that the search for truth is the basis for dialogue with others and critical engagement with the world. Academic excellence providence college is committed to academic excellence, and holds itself to the highest standards in teaching, learning, and scholarship. Its core curriculum addresses key questions of human existence, including life's meaning and purpose, and stresses the importance of moral and ethical reasoning, aesthetic appreciation, and understanding the natural world, other cultures, and diverse traditions. Providence college honors academic freedom, promotes critical thinking and engaged learning, and encourages a pedagogy of disputed questions. Community and diversity providence college seeks to reflect the rich diversity of the human family. Following the example of st. Dominic, who extended a loving embrace to all, it welcomes qualified men and women of every background and affirms the god-given dignity, freedom, and equality of each person. Providence college promotes the common good, the human flourishing of each member of the campus community, and service of neighbors near and far. Veritas and providence providence college brings the eight-hundred-year-old dominican ideal of veritas to the issues and challenges of today. It seeks to share the fruits of contemplation in an increasingly global and diverse society, and to praise and bless all that is good and vital in human endeavors. Providence college supports the dominican mission of preaching the gospel of jesus christ to a new generation of students and helping them discover god's providence in their lives.”

“Part vi, section a, lines 6-7b providence college's governing body is a two-tier structure: a corporation and a board of trustees. The 12-member corporation is the body that has the ultimate authority to exercise control over ownership of property, to promulgate and amend the by-laws, to accept or reject the recommendation for election to the presidency of the college by the board of trustees, and to elect members of the corporation and of the board of trustees. The corporation is comprised of four ex officio members and eight other individuals elected by the corporation, four dominican friars and four lay persons. The ex officio members are: the provincial of the province of st. Joseph, the elected leader of the dominican order for the eastern region of the united states; the roman catholic bishop of the diocese of providence; the president of the college; and the chairman of the board of trustees. The terms of office of the bishop, the president, the provincial and the chairman of the board of trustees are co-terminus with the respective incumbency of each. The term of all other members is three years.”

“Part vi, section b, line 11a the form 990 will be completed annually. Members of the audit committee will review the form 990 with the college's president, executive vice president/treasurer, sr. Vice president for finance & business/cfo, and controller. At the discretion of the audit committee chair, the third party preparer of the form 990 may be asked to attend. Any necessary change, identified through the review process, will be made to the originally submitted form 990. This updated version of the form 990 will be considered approved for filing. It will be signed by the sr. Vice president for finance & business/cfo, dated, and submitted by the filing deadline. A copy of the approved form 990 will be provided, via posting on the trustees only area of the college website, to all of the officers and trustees before the return is filed.”

“Part vi, section b, line 12c all officers, trustees, and key employees are required to disclose annual interests that could give rise to conflicts. All conflict of interest disclosure forms are reviewed by the college's general counsel, the chairmen of the audit committee, and a designee of the corporation. Issues arising under the application of this policy shall be resolved by the board of trustees or the executive committee.”

“Part vi, section b, line 15 the executive committee of the board of trustees annually reviews the policies, programs, and total compensation for executives to ensure compliance with federal regulations concerning executive compensation in non-profit organizations. Competitive survey data is collected, analyzed, and summarized by the associate vice president for human resources and is reviewed annually by the executive committee of the board of trustees. Salaries are based upon the executive's scope, size, and complexity of responsibilities as well as performance against goals and objectives. Benefits for executives are the same as those offered to all college employees. This process is used to establish compensation for the following: president, evp/treasurer, vp for student affairs, sr vp of academic affairs/provost, vp and general counsel, sr vp for finance/cfo, sr vp for institutional advancement and vp for mission and ministry. This process is done annually. Providence college's president and evp/treasurer are members of the dominican friars, a catholic religious order. They are provided on campus housing and healthcare benefits by the college. The compensation for other officers and key employees is set by the president of the college. Independent compensation comparability surveys are used periodically in setting compensation. The college complies with the three requirements of the rebuttable presumption standard, as outlined in treasury regulations section 53.4958-6: (1) executive compensation is authorized by an independent committee of the board of directors, (2) the committee authorizing executive compensation obtains and relies on appropriate data as to comparability prior to making determinations, and (3) the committee adequately documents the basis for determinations concurrently with making the determinations.”

“Part vi, section c, line 19 the organization's governing documents are made available to the public on the website. The college community (faculty, staff, and students) have access to the conflict of interest policy through the college's website. Financial statements are available to anyone upon request. The form 990 is posted on the internet at www.guidestar.org.”

“Part xi, line 9 part vi, section c, line 19 provision for doubtful pledges $ (728,393) post retirement benefit obligation $ 248,520 total $ (479,873)”